eMagin Corporation (NASDAQ:EMAN) Files An 8-K Entry into a Material Definitive Agreement

eMagin Corporation (NASDAQ:EMAN) Files An 8-K Entry into a Material Definitive Agreement

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Item 1.01.

Entry into a Material Definitive Agreement

On December 21, 2016, eMagin Corporation (the Company) entered
into a Financing Agreement with Rosenthal Rosenthal, Inc.
(Rosenthal) that provides for up to a maximum amount of $5
million based on a borrowing base equivalent of 85% of eligible
accounts receivable (the Financing Agreement). The interest on
the Financing Agreement is equal to the Prime Rate plus 3% but
may not be less than 6.5% with a minimum monthly interest payment
of $2,000. The Company shall pay Rosenthal an annual facility fee
equal to 1% of the maximum amount borrowable under the facility.
The Financing Agreement will automatically renew on December 31,
2019 for a one year term unless written notice to terminate the
Financing Agreement is provided by either party.

The Financing Agreement is secured by a lien on all receivables,
property and the proceeds thereof, credit insurance policies and
other insurance relating to the collateral, books, records and
other general intangibles, inventory and equipment, proceeds of
the collateral and accounts, instruments, chattel paper, and
documents.

The financing agreement contains customary representations and
warranties, affirmative and negative covenants and events of
default.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number Description
99.1 Press Release


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